The trading week on the BTC market did not dispel the intrigue about the next medium-term price movement. We see that the weekly candle has closed above the opening price at around $65,474. However, the attempt of buyers to "jump to the moon" ended with closing the weekly candle with a pin up. At the same time, trading volumes last week were low. All these facts give sellers an opportunity to organize a correction with the first target of $58,000. But, after the historical high update, no aggressive response took place. Even the weekend passed as calmly as possible.

<img src="https://s3.tradingview.com/snapshots/g/Gcrb5aPa.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/Gcrb5aPa/">https://www.tradingview.com/x/Gcrb5aPa/</a>

Globally, we also see that the BTC price is moving along the red trend line, which has been a reliable support for buyers since March 2020. Summarizing the facts gathered in the weekly timeframe, we can highlight the weakening of the growth trend. However, its partial suspension does not mean its change. From the same position as now, the BTC price can easily give its investors a powerful impulse with a target of $77,000. To better understand the situation, it is necessary to wait for the market of increased trading volumes. In this case, it will become clear who has the real power.
<h2>Technical Analysis of BTC in the Daily Timeframe</h2>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/m/m3SlYjdG.png" alt="BTC" width="1386" height="790" />

<a href="https://www.tradingview.com/x/m3SlYjdG/">https://www.tradingview.com/x/m3SlYjdG/</a>

Analyzing the <a href="https://www.cryptoknowmics.com/news/bitcoin-btc-price-briefly-retreats-from-all-time-high-to-62000/">situation</a> on the BTC market in the daily timeframe, you can see a clear channel of price movements. The red trend line is a global line that has stopped keeping the price. Though, the black price channel from 21 July is working well. At the moment, the Bitcoin price is near the middle line of this growth channel. To continue to increase the BTC price, it is important for buyers to keep the mark of $63,000. It is at this point that buyers actively inhibited the price fall on 10 and 12 November. Keeping the $63,000 mark during the next local buyer's attack will indicate the market readiness to continue the growth wave. However, losing control of the $63,000 mark could lead to a protracted correction with a final target of $52,000.
<h2>Bitcoin Dominance Continues to Prepare for Growth</h2>
<img src="https://s3.tradingview.com/snapshots/o/ohgw8RbF.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/ohgw8RbF/">https://www.tradingview.com/x/ohgw8RbF/</a>

The Bitcoin impact on the cryptocurrency market is beginning to grow again. After 4 weeks of capital flows into altcoins, interest in Bitcoin has re-emerged since last week. This could have been due to a weak price correction after the historical high was updated. As there are not enough sellers in the market, the BTC price growth can occur without high trading volumes. Consequently, investors with deposits of different sizes are again switching from altcoins to Bitcoin. Therefore, the end of 2021 may be quite bright for Bitcoin investors and the mark of $77,000 is likely to be conquered.

Bitcoin (BTC) Technical Analysis: Sellers Do Not Have the Strength for Deep Correction

Globally, we also see that the BTC price is moving along the red trend line, which has been a reliable support for buyers since March 2020.

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

Bitcoin (BTC) Technical Analysis: Sellers Do Not Have the Strength for Deep Correction

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